EUAD

EUAD aims to provide a different geographical view on aerospace and defense spending. The fund tracks an index of European stocks or ADRs of companies headquartered in Europe that derive at least fifty percent of their revenue from the complete supply chain tied to aerospace and defense industry. The investment thesis is that given global tension and shifting security commitments, the focus on European companies may provide opportunities. Such companies include manufacturing, service, supply and distribution of aeronautical equipment, components, hardware, software, or electronic systems. In addition, companies that directly support civil or military defense efforts. The ETF uses a replication strategy, meaning it will aim to hold all the component stocks in the same proportions. Holdings are market-cap weighted. The index is rebalanced and reconstituted daily.